NewStats: 3,264,975 , 8,185,245 topics. Date: Friday, 13 June 2025 at 01:38 AM 584t46

vaxx:
Banks to Hold Reserves in Original Deposit Currencies from June” means that starting in June 2025, banks will be required to keep a portion of their reserves in the same currency in which the deposits were originally made"(Bank of Ghana).

Currently, When banks receive deposits in foreign currencies (like the dollar and Euro), they might convert some of those into the local currency (e.g., Ghanaian cedi) for reserve or regulatory purposes. But the new rule is if a customer deposits dollars, the bank must hold a portion of that reserve in dollars— not cedis or any other currency.

The benefits of this policy's is too numerous for the economy stability.

Alright.

Ghana has the highest number of electric vehicles on it roads compare to any other African country.

MTN Ghana total asset value is s 4 billion dollars.

Just30:
MTN Ghana total asset value is s 4 billion dollars.

Nice.

GeneralDae:

Nice.

I should have put money on the Ghana stock exchange to earn 30% over the last few months especially when some stocks went as high as 150%

Just30:
Ghana has the highest number of electric vehicles on it roads compare to any other African country.

Did you count the ones in other African countries?

Kenya could overtake Nigeria in 3-4yrs unless they fixed their mess.

Ethiopia leads with 70,000 EV last I checked.

Just30:
Ghana has the highest number of electric vehicles on it roads compare to any other African country.

rvp2018:
Kenya could overtake Nigeria in 3-4yrs unless they fixed their mess.

you should be more worried that three West Africa state are clearly represented. Anyway Ghana GDP is currently just below 140 billion dollars according to Bank of GH

forgiveness:


Did you count the ones in other African countries?

there's a report on it with stats from the leading African countries

rvp2018:
Ethiopia leads with 70,000 EV last I checked.

dream on ....
Ethiopia has only 5,000 or so

Ghana Cedis is over-valued.
You'll cry like Nigeria did denying the obvious.
Until the reality hit you.

for donkeys years I told Nigeria their GDP was 180-220 - 200B.

And they cried here - hated me.

vaxx:
you should be more worried that three West Africa state are clearly represented. Anyway Ghana GDP is currently just below 140 billion dollars according to Bank of GH

Usual Ghana mad cow roaming the nairaland streets.

Ethiopia should be well onto 200,000 now,
They even banned petrol cars.
https://edition.cnn.com/2024/08/17/climate/ethiopia-evs-gas-car-ban-climate/index.html

That CNN article.

Just30:
dream on ....
Ethiopia has only 5,000 or so

rvp2018:
Usual Ghana mad cow roaming the nairaland streets.

Ethiopia should be well onto 200,000 now,
They even banned petrol cars.
https://edition.cnn.com/2024/08/17/climate/ethiopia-evs-gas-car-ban-climate/index.html

That CNN article.

it does not pay to be an empty head
https://www.the-star.co.ke/counties/eastern/2024-04-20-the-african-countries-with-the-highest-number-of-evs

The Ethiopian vehicle registration authority says they've ed only 5,000 vehicles but you're running with an estimate based on a dream

rvp2018:
Ghana Cedis is over-valued.
You'll cry like Nigeria did denying the obvious.
Until the reality hit you.

for donkeys years I told Nigeria their GDP was 180-220 - 200B.

And they cried here - hated me.

wait till we bring the Cedi dollar rate back to 3.5 as the government is targeting to bring Ghana's debt completely under control. All of this could happen by July 😂
15 billion dollars has been shaved off Ghana's debt

You'll cry more

rvp2018:
Ghana Cedis is over-valued.
You'll cry like Nigeria did denying the obvious.
Until the reality hit you.

for donkeys years I told Nigeria their GDP was 180-220 - 200B.

And they cried here - hated me.

Ghana is currently under the imf program. meaning it is subjected to imf policy and guidance. And you think cedis is overvalued? Where is your bra.in?

Just30:
there's a report on it with stats from the leading African countries

Drop the report. We don't want the fabricated from Ghana media.

forgiveness:


Drop the report. We don't want the fabricated from Ghana media.

i already did
Ghana media only report what is obtainable from Ghana vehicle registration authority and Ghana energy commission which certify every single one of those cars

https://africa.businessinsider.com/local/markets/top-10-african-countries-leading-electric-vehicle-adoption/5zgq8ej

You leave CNN article to quote a Kenya rag
Ethiopia has banned the import of petrol private cars.

Ethiopia has taken early lead in EV


https://www.youtube.com/watch?v=0AAt0Tn49wU

Just30:
it does not pay to be an empty head
https://www.the-star.co.ke/counties/eastern/2024-04-20-the-african-countries-with-the-highest-number-of-evs

The Ethiopian vehicle registration authority says they've ed only 5,000 vehicles but you're running with an estimate based on a dream

Its jumped 42% or more this year - so let see how it plays out. Aside from GOLD prices that are 30% high - nothing else justify such huge appreciation

vaxx:
Ghana is currently under the imf program. meaning it is subjected to imf policy and guidance. And you think cedis is overvalued? Where is your bra.in?

rvp2018:
Its jumped 42% or more this year - so let see how it plays out. Aside from GOLD prices that are 30% high - nothing else justify such huge appreciation

They have paused most external debt servicing since 2024. That’s another crucial factor.
Nigeria on the contrary spent 2 Billion dollars on debt servicing in the first four months of this year coupled with tanked oil prices.

rvp2018:
Its jumped 42% or more this year - so let see how it plays out. Aside from GOLD prices that are 30% high - nothing else justify such huge appreciation

A huge trade surplus driven by export and 7 billion dollars remittance and discipline spending justify it.

We've ran a trade surplus for so long and nothing justified the depreciation of the Cedi, this is just a reset
43%

rvp2018:
You leave CNN article to quote a Kenya rag
Ethiopia has banned the import of petrol private cars.

Ethiopia has taken early lead in EV


https://www.youtube.com/watch?v=0AAt0Tn49wU

cnn is just quoting from the same erroneous assumptions that you're quoting from.

GeneralDae:

They have paused most external debt servicing since 2024. That’s another crucial factor.
Nigeria on the contrary spent 2 Billion dollars on debt servicing in the first four months of this year coupled with tanked oil prices.

The happiest people right now are Bond holders of Ghana

GeneralDae:

They have paused most external debt servicing since 2024. That’s another crucial factor.
Nigeria on the contrary spent 2 Billion dollars on debt servicing in the first four months of this year coupled with tanked oil prices.

so when Argentina paused her payment to her external creditors, did peso suddenly went up at 42 percent against the dollar? Infact Argentina case was a brutal mistake , they try pegging their dollar with the peso and it end up in a disaster .


Pausing debt payment does not improved economy fundamentals, sound economy does. Zambia is a case study.

rvp2018:
Its jumped 42% or more this year - so let see how it plays out. Aside from GOLD prices that are 30% high - nothing else justify such huge appreciation

Mr Man, the gold itself is enough reason coupled with imf policy and guidance . Also the restrictive Monetary Policy implemented by the govt. For example, the bank of GH raised its policy rate—hiking by 500 basis points since December—to a 30% benchmark, ensuring excess liquidity are curbed and ensuring foreign capital inflows into short-term T-bills and forex auctions.

vaxx:
so when Argentina paused her payment to her external creditors, did peso suddenly went up at 42 percent against the dollar? Infact Argentina case was a brutal mistake , they try pegging their dollar with the peso and it end up in a disaster .


Pausing debt payment does not improved economy fundamentals, sound economy does. Zambia is a case study.

Pausing debt payments plus record highs in gold prices does improve economic fundamentals.
Also, the new Government is yet to start spending aggressively in order to meet up with the IMF goals which were missed by the previous Government late last year.
It’s all four factors combined:

Record gold prices
Record cocoa prices
Slow Government spending comparatively
Paused external debt servicing

However, as long as inflation stays above 15% and your interest rate is high, the cedis would weaken again later in the year when the Government starts spending more.

GeneralDae:

Pausing debt payments plus record highs in gold prices does improve economic fundamentals.
Also, the new Government is yet to start spending aggressively in order to meet up with the IMF goals which were missed by the previous Government late last year.
It’s all four factors combined:

Record gold prices
Record cocoa prices
Slow Government spending comparatively
Paused external debt servicing

However, as long as inflation stays above 15% and your interest rate is high, the cedis would weaken again later in the year when the Government starts spending more.

inflation will drop to single digits before end of year as prices drop.

Cocoa does not play a role.
Debt servicing will not make a dent because of how the debt is spread.

Government is actually spending but not in a wasteful manner

GeneralDae:

Pausing debt payments plus record highs in gold prices does improve economic fundamentals.
Also, the new Government is yet to start spending aggressively in order to meet up with the IMF goals which were missed by the previous Government late last year.
It’s all four factors combined:

Record gold prices
Record cocoa prices
Slow Government spending comparatively
Paused external debt servicing

However, as long as inflation stays above 15% and your interest rate is high, the cedis would weaken again later in the year when the Government starts spending more.

very absurd. Gold is adding up yes ,but stating that pausing payment also contributed to a stronger cedis is flawed . I have given you Zambia , Argentina case as an example. Your currency cannot skyrocket to 42 percent high against the dollar if your reserved is not strong ( that is just more than enough than what payment pospontment can caused )

Ghana is busy expanding is Gold reserve ( Ghana currently owns the largest gold reserve in West Africa )coupled with increased imf , the last trenched of the money borrowed will soon hit Ghana bank in the coming month, it will add up to the strength of the cedis again. Do you even know dollars falls in Ghana everyday ( two weeks consequtively now .


Anyway Ghana govt is spending , infact the spending might be more bigger the last regime , it is just that it is a prudent initiative.

Ghana is currently about building a new capital city . Accra has being reported congested and therefore Ghana need a new phase